Coffee exports declined both in volume and turnover
The Export and Import Department (Ministry of Industry and Trade) said that coffee prices have continuously decreased in the past time, causing farmers and agents to keep goods waiting for prices. Besides, unfavorable weather factors have affected the cultivation process, production costs increased, while prices were low, causing difficulties for people and businesses.In the 10 middle days of May 2019, domestic coffee prices decreased according to the world price trend. On May 20, 2019, the price of Robusta coffee in the domestic market decreased from 0.7-2.3% compared to May 10, 2019 and decreased from 2.6-3.8% compared to the day. April 20, 2019. At present, the price of Robusta coffee is the lowest at 29,700 VND / kg in Di Linh and Lam Ha districts of Lam Dong province; the highest level is 30,400 VND / kg in Cu M’gar districts in Dak Lak province and la Grai district in Gia Lai province. At warehouses around Ho Chi Minh City, R1 Robusta coffee decreased by 0.6% compared to May 10, 2019 and decreased by 2.2% compared to April 20, 2019, to VND 31,700 / kg.According to statistics from the General Department of Customs, Vietnam's coffee exports in the first 15 days of May 2019 reached nearly 64 thousand tons, worth 104.19 million USD, down 8.9% in volume and 11 decreases. , 7% of the value compared to the first 15 days of April 2019, compared with the first 15 days of May 2018, decreased 9.3% in volume and 25% in value. Accumulated from the beginning of the year to the end of May 15, 2019, coffee export reached 695.5 thousand tons, worth 1.196 billion USD, down 12.8% in volume and 22.3% in value compared to the same period. period of 2018. Vietnam's coffee export price in the first half of May 2019 reached USD 1,629 / ton, down 2.9% compared to the first 15 days of April 2019, and down 17.3% compared to the first 15 days of May. / 2018. Accumulated from the beginning of the year to the middle of May 2019, the average export price of coffee reached USD 1,721 / ton, down 10.9% compared to the same period in 2018. According to the Export and Import Department, on the global coffee market, prices fell as the Brazilian Real reduced the sales of farmers in this country, while the dollar strengthened against the major currencies in the world currency basket. , reducing purchasing power. Besides, the stalemate Brexit process weakened the British pound also caused more disadvantages for Robusta coffee prices in London market. However, the strong recovery of the stock market is the main factor pushing speculators to shift investment channels, causing the global commodity market in general, and coffee products in particular to reduce prices.